公告称，本期间溢利下降主要是苏州东瑞善丰路厂区和兰州东瑞未形成规模化的商业化生产、"安"系列 等集采品种受国家政策影响部分省份价格下降以及研发费用增加所致。 东瑞制葯(02348)公布2025年中期业绩，收入约6.3亿元，同比增长9.2%;毛利约3.14亿元，同比减少7.1%; 母公司拥有人应占溢利约1.05亿元，同比减少78.79%;每股盈利0.06961元，每股中期股息0.015港元。 其中：治疗高血压的"安"系列产品与去年同期相比销售量减少5.7%，销售额下降22.1%，主要是受国家 集采政策影响部分地区价格下降;抗病毒药恩替卡韦分散片与去年同期相比销售量增长14.0%，销售额增 长8.7%;以治疗高血脂症为主的福建东瑞产品系列与去年同期相比销售量增长19.5%，销售额增长16.6%; 头孢粉针剂与去年同期相比，销售量增长47.9%，销售额增长55.7%;随着集团全资附属公司苏州东瑞制 药有限公司(苏州东瑞)善丰路厂区和集团全资附属公司兰州东瑞制药有限公司陆续商业化投产，中间体 及原料药与2024年同期相比销售量增长244.8%，销售额增长142.7%。 ...

公告称，本期间溢利下降主要是苏州东瑞善丰路厂区和兰州东瑞未形成规模化的商业化生产、"安"系列 等集采品种受国家政策影响部分省份价格下降以及研发费用增加所致。 其中：治疗高血压的"安"系列产品与去年同期相比销售量减少 5.7%，销售额下降 22.1%， 主要是受国 家集采政策影响部分地区价格下降;抗病毒药恩替卡韦分散片与去年同期相比销售量增长 14.0%，销售 额增长 8.7%;以治疗高血脂症为主的福建东瑞产品系列与去年同期相比销售量增长 19.5%，销售额增长 16.6%;头孢粉针剂与去年同期相比，销售量增长 47.9%，销售额增长 55.7%;随着集团全资附属公司苏州 东瑞制药有限公司(苏州东瑞)善丰路厂区和集团全资附属公司兰州东瑞制药有限公司陆续商业化投产， 中间体及原料药与2024年同期相比销售量增长 244.8%，销售额增长 142.7%。 智通财经APP讯，东瑞制葯(02348)公布2025年中期业绩，收入约6.3亿元，同比增长9.2%;毛利约3.14亿 元，同比减少7.1%;母公司拥有人应占溢利约1.05亿元，同比减少78.79%;每股盈利0.06961元，每股中期 股息0.015港元。 ...

Company Overview - Zhuzhou Qianjin Pharmaceutical Co., Ltd. primarily engages in the research, production, and sales of chemical synthetic raw materials and solid preparations, with key products including Valsartan capsules and other medications [3][5] - Qianjin Xiangjiang Pharmaceutical's nine centralized procurement varieties have seen sales growth exceeding 20% year-on-year, while Qianjin Xieli Pharmaceutical's product, Benazepril, has experienced over 30% sales growth [3][5] Revenue Analysis - The company has reported significant revenue from centralized procurement, with the revenue from centralized procurement increasing substantially over the reporting period [9][10] - For Qianjin Xiangjiang Pharmaceutical, the revenue from centralized procurement accounted for 57.09% in 2024, up from 7.50% in 2020, indicating a strong shift towards centralized procurement sales [9][10] - The average selling price for centralized procurement has decreased from 7.66 to 6.61, while the non-centralized procurement price has also seen a decline from 25.99 to 17.50 [9][10] Market Position and Competitive Landscape - The market for hypertension medications is projected to grow, with the number of hypertension patients in China expected to reach 400 million by 2030, driving demand for products like Valsartan [7][8] - Qianjin Xiangjiang holds approximately 3% market share in the Valsartan segment, while its market share in other products varies, indicating a competitive landscape with several key players [7][8] - The company benefits from a self-operated team and strong brand recognition, which enhances its market position against competitors [7][8] Product Development and Pipeline - The company has several products undergoing research and development, with a focus on expanding its portfolio in response to market needs [6][8] - The market for liver protection drugs, such as Silymarin, is expected to grow significantly, with Qianjin Xieli's market share projected to reach 40% by 2030 [8] Cost and Expense Management - The company has optimized its production processes, which is expected to enhance its cost management and pricing strategies in future centralized procurement rounds [8][9] - The gross profit margin for centralized procurement products has improved, reflecting better cost control and pricing strategies [9][10]